Touch Screen Display Market Overview:
The Global Touch Screen Display market is projected to grow from USD 59.6 Billion in 2021 to 193.6 Billion by 2030, at a CAGR of 14% in the forecast period.
Rapid commercialization, ease of use, and accessibility are the key factors driving the Touch screen Display market growth. The touchscreen has numerous applications in daily life as well as in industrial sectors. Several factors are driving the substantial expansion of the market for touchscreen displays, such as the rising demand for tablet computers and computing platforms with touchscreens. As a means to interact with computer systems, particularly mobile devices, touchscreen technology is increasingly being used. Nowadays, touchscreen displays are used in standard laptop and desktop computers so that users can use touch instead of traditional input methods like keyboards and mouse. Continuous improvements in making touch screens with advanced features have opened up new opportunities for the growth of the market. Continuous improvements in making touch screens with advanced features such as multi-touch displays have opened up new opportunities for the growth of the market. Touchscreen displays have experienced a transition from being heavy to slim. In addition, they have significantly higher resolutions, and higher contrast ratios, and use less power than conventional display devices. For instance, LG Electronics introduced a new OLED display with touchscreen technology for digital signage in 2020.
The global market is expanding at a phenomenal rate in China. The primary driver of the market is the nation’s position as a manufacturing center for these display products. The use of touchscreens in the hospitality industry and brand advertising throughout the nation are two significant trends that are driving sales in the market.
One of the main drivers of the market for touchscreen displays is the growing usage of smartphones and tablets. Moreover, these touchscreen displays are used in many sectors such as education, healthcare, corporate, and others. Additionally, the market for touchscreen displays is growing as a result of rapid urbanization, lifestyle shifts, and an increase in consumer spending capacity. Market demand may also be driven by the customization of touchscreen displays to provide a personalized user experience. Typically, traditional computers require a keyboard and mouse, whereas laptops or touchscreen monitors do not. Devices with touchscreens, such as smartphones and laptops are convenient to use. These factors are responsible for the growth of the global market.
The main factor that hinders the growth of the market is the availability of raw materials. Market profitability may also decline as a result of rising production costs and intense competition. Moreover, the lack of heat dissipation in high-end smartphones and tablets may also make display heating a problem for the Touch Screen Display market. Another factor restraining the growth of the market is the increasing usage of voice like Alexa to interact with computers will reduce the usage of touchscreen displays.
With rapid technological advancements, companies have started providing advanced features in touchscreen devices. Many companies are also putting in efforts to incorporate Artificial Intelligence (AI) in touchscreen display devices. These are providing new opportunities for the market to propel in the forecast period.
The demand for touchscreen displays has also benefited from the COVID-19 pandemic. As the majority of people began working from home, sales of tablets, laptops, and other electronic devices surged in certain regions. Moreover, the touchscreen display’s sales rate increased as a result of technological advancements because it appealed to the right audience. During the forecast period, the market will benefit from favorable opportunities brought about by the ongoing trend of working from home and the demand for brand-new, more advanced electronic devices. As a result, it will affect the global expansion of the touchscreen display market.
Touch Screen Display Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||193.6 Billion|
|By Screen Type||Capacitive, Resistive, Infrared, and Surface acoustic wave type displays.|
|By Application||Personal Use (Smartphones, tablets) and Professional Use (Education, Healthcare, and Government)|
|By Geography||North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa|
|Key Players||Samsung Corporation, Displax, FUJITSU, LG Electronics, Microsoft, NEC Corporation, Innolux Corporation, AU Optronics Corporation, Panasonic Holdings Corporation, 3M
By Screen Type
Based on the screen type, the market is divided into Capacitive, Resistive, Infrared, and Surface acoustic wave-type displays. Due to widespread usage and a variety of applications, capacitive touch screens are expected to see significant growth. Capacitive screens are strong and durable. Fingerprint impressions do not affect the performance of the capacitive screens. Infrared touch screens are experiencing significant growth in the market. Infrared touch displays are used in industrial automation, ticket machines, and so on. Due to the lower durability and inability to handle multiple light sources, resistive touch screens may exhibit a slower growth rate. Resistive touch screens are inexpensive and can be operated with a pen. A surface acoustic wave-type display uses a solid glass display as the touch sensor. They are used in restaurants, banks, and retail stores.
The global touchscreen display market is segmented into personal use applications such as smartphones, and tablets and professional use applications such as kiosks, education, healthcare, and government sectors. The smartphone market is used extensively all over the world. Smartphones now have touchscreens as a standard feature. It is approximated that in 2021, there were 5924 million smartphone users worldwide. College students also use tablets frequently. Smartphones and tablets share the same mobile operating systems. Tablets are larger and cannot make calls. On the other hand, smartphones are smaller and can make calls. The Kiosks segment is also experiencing significant growth due to the growing demand for self-service in banking and financial services.
North America dominates the market for touchscreen displays because of the high use of technology-intensive products in the region. Over the forecast period, this region is anticipated to maintain its lead position and hold the largest market share. Due to the availability of raw materials and the high rate of smartphone adoption, the Asia-Pacific market may also experience excellent growth. The smart wearables market is also being driven by the region’s expanding electronics industry. The touchscreen display market in Europe is also expected to rise owing to the consumers’ need for products with a lot of features and appealing designs.
Touch Screen Display Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and Application launches have accelerated the growth of the Sample Preparation market. Key players in the market include-
- Samsung Corporation
- LG Electronics
- NEC Corporation
- Innolux Corporation
- AU Optronics Corporation
- Panasonic Holdings Corporation
- In April 2022, a company named Fujitsu in Japan introduced its new service portfolio, Fujitsu Computing as a Service (CaaS). It provides access to the most advanced computing technologies by promoting digital transformation across the world.
- In January 2020, Samsung launched its new innovative solution to help mortar & brick retailers to enhance the experience of its customers with new display solutions.
- In March 2020, NEC Corporation decided to collaborate with Sharp Corporation to meet the need of global customers.